Indian economy in fine fettle: Ravi Shankar Prasad

PATNA: The economy of the country is in fine fettle and has registered around 28 per cent rise in foreign investments, union minister Ravi Shankar Prasad said on Sunday. He was speaking before a gathering of businessmen and members of Bihar Industries Association's annual function.

"Everybody should know that the IT sector amongst others has witnessed highest investment that shows how the investors are sure of the emerging robust economy of India," Shankar said refuting the claims of economic slowdown.

Quoting recent decision of NDA government, Prasad said that taxes have been reduced from 34 per cent to 17 per cent in order to encourage 'Make In India' endeavour.

"India has become the world's second mobile manufacturing country following mammoth productions and subsequent demands of products," he claimed. There are around 260 industrial units involved in manufacturing the parts and mobiles in the country, he said.

"Buoyed over the substantial growths in these sectors, the government of India is promoting manufacturing of electronic medical machines in order to make the country self-reliant in its production," he said.

Besides this, he informed the industrialists that East Central Railway has decided to construct five new platforms at Harding Park. "For this,postal department has also decided to exchange its land with the ministry of railway," he said.